Northbrook, IL 60062 -- (SBWIRE) -- 04/12/2023 -- According to a new market research report, the global hydrogen generation market is projected to reach USD 263.5 Billion by 2027, at a CAGR of 10.5% between 2022 to 2027. The factors driving the growth for hydrogen generation market is Increasing hydrogen demand in the petroleum refineries and rising demand for hydrogen in transportation and power generation applications.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=494

Hydrogen is the simplest element exist on Earth and is a energy carrier. Hydrogen is rarely found by itself in nature and must be produced from substances that contain it. Hydrogen can store and distribute useable energy. The production of hydrogen can be done in a low-carbon manner using a variety of domestic resources, such as nuclear energy and renewable energy sources including wind, solar, geothermal, and hydroelectric power, as well as fossil fuels like coal and natural gas combined with carbon capture and storage. Utilizing hydrogen can enable zero or nearly zero emissions in transportation, integrated renewable energy systems, and other industrial and chemical operations. Emerging hydrogen markets within these sectors include data centers, ports, steel manufacturing, and medium- and heavy-duty trucks. The hydrogen generation market comprises revenues of companies that either store hydrogen or offer equipment to store. The operating expenditure and servicing revenue are not included in the scope of the study. For the estimation of hydrogen generation market size, the y-o-y annual capacity addition of blue hydrogen, grey hydrogen, and green hydrogen across the regions were estimated, and revenues of companies that produces and supply the hydrogen and technology related to that across various global regions are assessed in the study.

Green hydrogen is the fastest growing segment by source in the forecast period from 2022-2027. Companies like Siemens (Germany), Linde plc (Ireland), ENGIE (France), Air Liquide (France), and Air Products Inc. (US), Nel ASA (Norway), ITM Power (United Kingdom) are manufacturing hydrogen generation in mass production.

Transportation segment is the fastest growing segment by application segment in the forecast period. European Countries like Germany are more focused on fuel cell based electric vehicles and hydrogen storage infrastructure are driving the hydrogen energy storage market in this segment.

Electrolysis: The fastest growing segment of hydrogen generation market, by technology

Electrolysis might be a promising technique for hydrogen production in the future. The simplest electrolysis method transforms water into hydrogen and oxygen by placing two electrodes in it and running an electrical current through them. Other than hydrogen and oxygen, electrolysis does not emit or produce any by-products

Ask Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=494

Asia Pacific is expected to be fastest growing region the global hydrogen generation market

The Asia Pacific is estimated to be the fastest market for the hydrogen generation market, followed by North America. The North America is projected to be the second fastest-growing market during the forecast period. The oil refining and chemical industries and transportation and electricity sectors are experiencing significant demand for hydrogen in this region.

Browse Related Reports:

Fuel Cell Market by Type (PEMFC, SOFC, PAFC, MFC, DMFC, AFC), Application (Portable, Stationary, Vehicles (FCV)), Size (Small & Large), End User (Residential, C&l, Transportation, Data Center, Military & Defense, Utility), Region - Global Forecast to 2027

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com